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Financial Assets and Financial Liabilities | 12 Months Ended
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Jun. 30, 2024
Financial Assets and Financial Liabilities [Abstract] |
Financial assets and financial liabilities | Note 8. Financial assets and financial liabilities
| (a) | Cash and cash equivalents
|  | 30 June 2024 |  |  | 30 June 2023 |
|  | A$ |  |  | A$ |
Cash at Bank and in hand: |  |  |  |  |  |
Cash at bank and in hand |  |  | 11,657,315 |  |  |  | 17,159,764 |
Total |  |  | 11,657,315 |  |  |  | 17,159,764 |
| (b) | Trade and other receivables
|  | 30 June 2024 |  |  | 30 June 2023 |
|  | A$ |  |  | A$ |
Current |  |  |  |  |  |
Trade receivables1 |  |  | 607,436 |  |  |  | 46,949 |
Loss allowance |  |  | (16,233 | ) |  |  | (27,920 | )
Accrued income – Australian R&D tax incentive refund2 |  |  | 768,370 |  |  |  | 398,391 |
Other income receivables – R&D grants3 |  |  | 28,000 |  |  |  | - |
Total |  |  | 1,387,573 |  |  |  | 417,420 |
1 | All trade receivables are non-interest bearing.
2 | Receivables from the Australian Tax Office in relation to R&D tax incentive refund for the year.
3 | The group has recognized $28,000 of EMDG grant in other income receivable for the current financial year (2023:nil).
| (c) | Financial assets
The group classifies the following as financial assets recognised at fair value through profit or loss (FVPL) as part of Immuron’s strategic investment in Ateria:
| ● | Immuron was entitled to 735,000 share options with a total exercise price of £1,470,000, expiring on 31 July 2023, which Immuron subsequently elected not to exercise; and
| ● | On 22 February 2024 Immuron received 471,306 shares in Ateria upon satisfying performance milestones.
Financial assets mandatorily measured at FVPL include the following:
|  |  |  | 30 June 2024 |  |  | 30 June 2023 |
|  | Notes |  | A$ |  |  | A$ |
Current |  |  |  |  |  |  |  |
Ateria share options |  | 8(c)(iii) |  |  | - |  |  |  | 221,620 |
Ateria contingent consideration receivable |  | 8(c)(iii) |  |  | - |  |  |  | 1,612,414 |
|  |  |  |  | - |  |  |  | 1,834,034 |
(i) | Recognized fair value measurements
This section explains the judgements and estimates made in determining the fair values of the financial instruments that are recognized and measured at fair value in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the group has classified its financial instruments into the three levels prescribed under the accounting standards.
Recurring fair value measurements |  | Notes |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  |  |  |  | $ |  |  | $ |  |  | $ |
At 30 June 2024 |  |  |  |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |
Ateria share options |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |
Ateria contingent consideration receivable |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |
Total financial assets |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |
Recurring fair value measurements |  | Notes |  | Level 2 |  |  | Level 3 |  |  | Total |
At 30 June 2023 |  |  |  | $ |  |  | $ |  |  | $ |
Financial assets |  |  |  |  |  |  |  |  |  |  |
Ateria share options |  |  |  |  | 221,620 |  |  |  | - |  |  |  | 221,620 |
Ateria contingent consideration receivable |  |  |  |  | - |  |  |  | 1,612,414 |  |  |  | 1,612,414 |
Total financial assets |  |  |  |  | 221,620 |  |  |  | 1,612,414 |  |  |  | 1,834,034 |
(ii) | Amounts recognised in profit or loss
During the year, the following losses were recognised in profit or loss:
|  | 30 June 2024 |  |  | 30 June 2023 |  |  | 30 June 2022 |
|  | A$ |  |  | A$ |  |  | A$ |
Fair value gains/(losses) to financial assets |  |  | (557,676 | ) |  |  | (523,666 | ) |  |  | - |
(iii) | Fair value of financial assets
The assessed fair value of Ateria share options at acquisition and reporting date was determined using the Black-Scholes option pricing model that takes into account the exercise price, term of the option, security price at grant date and expected price volatility of the underlying security, the expected dividend yield, the risk-free interest rate for the term of the security and certain probability assumptions.
Reconciliation |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | $ |  |  | $ |  |  | $ |
Financial assets |  |  |  |  |  |  |  |  |
Balance at acquisition date |  |  | 221,620 |  |  |  | 1,612,414 |  |  |  | 1,834,034 |
Fair value gains/(losses) to financial assets |  |  | (221,620 | ) |  |  | (336,056 | ) |  |  | (557,676 | )
Net foreign exchange gains |  |  | - |  |  |  | 20,595 |  |  |  | 20,595 |
Share of loss from associates* |  |  | - |  |  |  | (101,603 | ) |  |  | (101,603 | )
Issue of Ateria contingent shares* |  |  | - |  |  |  | (1,195,350 | ) |  |  | (1,195,350 | )
Balance at 30 June 2024 |  |  | - |  |  |  | - |  |  |  | - |
| * | Note: (refer to Note 10(b)).
Ateria share options at 30 June 2023 As at 30 June 2023, the fair value of Ateria share options were determined using the following inputs:
Value date |  | Expiry date |  | Exercise price |  |  | No. of options |  |  | Share price at grant date |  |  | Expected volatility |  |  | Dividend yield |  |  | Risk- free interest rate |  |  | Fair value at grant date per option |
2023-06-30 |  | 2023-07-31 |  | £ | 2.00 |  |  |  | 735,000 |  |  | £ | 1.85 |  |  |  | 100.00 | % |  |  | 0.00 | % |  |  | 4.18 | % |  | £ | 0.1583 |
Ateria contingent consideration receivable at 30 June 2023 As disclosed in Note 10, Ateria contingent consideration receivable was recognized in relation to the acquisition of the interest in Ateria. The assessed fair value of Ateria contingent consideration receivable at acquisition date and reporting date was determined at arm’s length using the last traded share price of £1.85 on 28 February 2023 and the expected number of shares to be received of 457,577. Given positive progress being made in establishing brand identity and sales growth, the most recent capital raising price continues to be the best determination of fair value for Ateria’s shares given that they do not trade on an active market. No reasonably possible changes would result in a material change in value. The number of shares to be received in Ateria is dependent on the financial performance of Ateria. If Ateria achieves a revenue goal for the calendar year 2023 of above £1 million, the number of shares to be received reduces on a linear basis. The shares were received on 22 February 2024. (d) Other current assets
|  | 30 June 2024 |  |  | 30 June 2023 |
|  | A$ |  |  | A$ |
Prepayments |  |  | 96,841 |  |  |  | 158,151 |
Total |  |  | 96,841 |  |  |  | 158,151 |
(e) Trade and other payables
|  | 30 June 2024 A$ |  |  | 30 June 2023 A$ |
Current |  |  |  |  |  |
Trade payables |  |  | 648,851 |  |  |  | 790,919 |
Accrued expenses |  |  | 1,445,451 |  |  |  | 394,026 |
Other payables |  |  | 41,550 |  |  |  | 7,824 |
Total |  |  | 2,135,852 |  |  |  | 1,192,769 |
(f) Deferred income
|  | 30 June 2024 A$ |  |  | 30 June 2023 A$ |
Current |  |  |  |  |  |  |  |
Deferred grant income |  |  | - |  |  |  | 698,195 |
Total |  |  | - |  |  |  | 698,195 |
For the period ended 30 June 2024, the group received $1,901,263 R&D grant from Medical Technology Enterprise Consortium (MTEC) in cash. Refer to Note 3 for further information on income recognized from MTEC during the year.

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